Every person who suffers the indignity of bankruptcy would be wise to grasp the policy behind bankruptcy and understand, the author of the first bankruptcy law was the Hebrew Moses, the Law Giver who led God’s people to Freedom out of Egyptian Slavery.
Lawgiver Moses was a stutter. He was afraid. He was a murder. Yet he listened to God and delivered the Children of Israel from their slavery. What has this to do with a 2017 vintage bankrupt?
That the law given to Moses by God the Father required that all indebtedness be canceled. Not just once, but every seven years! That cycle of fresh starts assured that the freed slaves should not become slaves to debt.
So what is the lesson? First , that debt relief by bankruptcy is a moral prerequisite for a moral society. Second , that we should learn from our mistakes. That we should not condemn ourselves.